Piper Sandler Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

Key Points

• Piper Sandler has lowered its price target for IAC from $44.00 to $39.00, while maintaining a "neutral" rating, indicating a potential upside of 13.75% from the stock's current price.
• Truist Financial and JPMorgan Chase also reduced their price targets on IAC, with the average target price now at $47.92, reflecting a consensus "Moderate Buy" rating among analysts.
• IAC's stock recently traded down 0.3% to $34.29, with the company reporting $2.57 EPS for the last quarter, significantly surpassing analysts' expectations of a loss.

IAC (NASDAQ:IAC - Get Free Report) had its price objective decreased by investment analysts at Piper Sandler from $44.00 to $39.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's target price suggests a potential upside of 13.99% from the company's current price.

Several other brokerages also recently weighed in on IAC. Benchmark reduced their price target on IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday. The Goldman Sachs Group reduced their target price on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Truist Financial lowered their target price on shares of IAC from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup cut their price target on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Barclays decreased their price objective on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $47.92.

IAC Trading Down 2.2%

IAC stock traded down $0.78 during mid-day trading on Wednesday, reaching $34.22. 467,060 shares of the stock traded hands, compared to its average volume of 1,092,221. IAC has a one year low of $32.04 and a one year high of $55.40. The stock has a market capitalization of $2.54 billion, a PE ratio of -6.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.87. The business has a 50-day moving average price of $38.23 and a two-hundred day moving average price of $39.78.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company had revenue of $586.93 million for the quarter, compared to the consensus estimate of $601.38 million. During the same period in the prior year, the firm posted ($1.71) EPS. The firm's revenue was down 7.5% compared to the same quarter last year. Equities research analysts expect that IAC will post 0.43 EPS for the current year.

Hedge Funds Weigh In On IAC

A number of hedge funds and other institutional investors have recently modified their holdings of IAC. Aster Capital Management DIFC Ltd increased its holdings in shares of IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after acquiring an additional 457 shares during the period. TD Private Client Wealth LLC grew its stake in IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Parallel Advisors LLC raised its holdings in IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after purchasing an additional 583 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after buying an additional 507 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after buying an additional 369 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.